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Started By
Message
does your company still offer a pension?
Posted on 2/23/15 at 2:07 pm
Posted on 2/23/15 at 2:07 pm
Mine does. they give 3% of salary @ 4.5% return
14
Posted on 2/23/15 at 2:19 pm to LSU6262
Hell no.
What industry?
What industry?
Posted on 2/23/15 at 2:31 pm to LSU6262
Mine still does.
Normal Retirement Benefit is
(A)53.2% of the first $800 of your monthly Final Average Pay; and
(B) is 70.0% of your monthly Final Average Pay in excess of $800.
Normal Retirement Benefit is
(A)53.2% of the first $800 of your monthly Final Average Pay; and
(B) is 70.0% of your monthly Final Average Pay in excess of $800.
Posted on 2/23/15 at 2:44 pm to LSU6262
Yup, 3% of salary as well
Posted on 2/23/15 at 2:48 pm to LSU6262
Mine does 5% of salary for 1st year; it increases based on years of service.
Posted on 2/23/15 at 3:26 pm to LSU6262
Yes, after you have been there 2 years.
Posted on 2/23/15 at 4:05 pm to LSU6262
quote:
does your company still offer a pension?
Ummm, no. Never have and never will.
I do have equity within my company and sometimes there are distributions paid out, but that's about it.
Posted on 2/23/15 at 7:33 pm to LSU6262
I do not. I would be worried to rely on something out of my control, especially something that could change down the line if company finances change. Give me my 401k contributions and I will take it from there.
Posted on 2/23/15 at 7:48 pm to LSU6262
Didn't realize so many govt employees on here.
Posted on 2/23/15 at 8:06 pm to LSU6262
Pensions are actually making a big comeback in private businesses
Posted on 2/23/15 at 8:10 pm to LSU6262
Yea. If you make the partnership.
Posted on 2/23/15 at 10:03 pm to LSU6262
Yes I have a pension.
We'll see what Halliburton thinks about that soon enough.
We'll see what Halliburton thinks about that soon enough.
Posted on 2/24/15 at 5:47 am to LSU6262
What happens when the company cuts a pension. Is that only effective for current employees (as in if you are still working, you are now on your own for retirement at the drop of a hat), or does it screw over those who are already retired as well? I know my moms company dropped their pension years ago, so she had time to build a 401k. Always seemed much riskier than playing the market in a 401k to me.
Posted on 2/24/15 at 6:09 am to LSU6262
Mine does; however if you're not an executive, then it's relatively small.
The real pension starts for the executives. Rumor is that Non-equity executives get something on average in the realm of 150k per year in retirement. Equity partners get something on average in the realm of 500k per year. Those figures are unconfirmed as they don't typically reveal such benefits until you are being vetted for those levels.
Also the figures can vary as it's based on something like your 3-5 highest earning years divided by some figure. Not a bad gig if you can get it.
The real pension starts for the executives. Rumor is that Non-equity executives get something on average in the realm of 150k per year in retirement. Equity partners get something on average in the realm of 500k per year. Those figures are unconfirmed as they don't typically reveal such benefits until you are being vetted for those levels.
Also the figures can vary as it's based on something like your 3-5 highest earning years divided by some figure. Not a bad gig if you can get it.
Posted on 2/24/15 at 9:42 am to LSU6262
KO still does 
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